KCB to set aside Sh1bn for Kenyan start-ups

KCB has pledged Sh1 billion to fund start-ups following calls for financial institutions to match the government’s allocation to several entrepreneur seed funds. Chief executive Joshua Oigara made the announcement when he moderated an entrepreneurship panel discussion at the Kenyatta International Convention Centre (KICC), Friday. “I believe in investing and we will, as an organisation, commit Sh1 billion to the Enterprise Kenya fund,” he said…[...]

Kenya shilling eases, NSE stocks fall for 13th time running

The Kenyan shilling eased on Friday, while stocks fell to a 29-month low as both markets closed early due to US President Barack Obama’s visit. At close of trade at 1000 GMT, commercial banks quoted the shilling at 101.15/25 to the dollar versus Thursday’s close of 100.75/85 as banks covered their short dollar positions…[...]

Data firm to offer free Internet

An Internet service provider has offered African entrepreneurs who publish local content online free connections, free website hosting and unlimited Internet usage for two years. Liquid Telecom Kenya launched ‘Information Enabler’ programme targeting content start-ups in Africa with nine or fewer employees…[...]

Spotlight on flower growers as Kebs unveil new standards

Flower farms in the country will now have to be certified following the launch of the Kenya Standard Code of Practice which specifically deals with flowers. The new code ‘KS 1758 Standards’ is mandatory to all flower farmers and will seek to address the issues of workers, environment and consumers…[...]

Smokers lift BAT earnings by 8pc

Despite increased regulatory pressures aimed at controlling tobacco use in Kenya, the cigarette maker’s net profit in the first half of this year rose by 8.3 per cent on higher sales compared to Sh1.79 billion reported in a similar period in 2014. Turnover stood at Sh17 billion compared to Sh16 billion in the period under review…[...]

Wireless internet provider Mawingu Networks gets US funding

Wireless internet provider Mawingu Networks has signed an agreement that will see the US government fund its operations. The Overseas Private Investment Corporation, the US government's Development Finance Institution said it has the potential to provide Sh400 million loan that will commercially expand the connectivity for the off grid Internet access…[...]

Rockefeller to support ideas on post-harvest loss reduction

Innovators with viable ideas on the reduction of post-harvest agricultural losses will have support from the Rockefeller Foundation. The foundation said the support to such innovative methods to preserve food from planting to post consumption will help avert any food deficiencies in the country…[...]

Kenyan entrepreneur takes mobile credit to 28 countries

What keeps 40 year old founder of Mobile Decisioning Africa (MoDe), Julian Kyula awake at night, is the question which start-up will take his company out of business. MoDe which provides mobile credit service, has a footprint in 28 countries across the globe in only five years and Mr Kinyua said he hopes to add seven more countries by the end of the year…[...]

British Airways suspends Entebbe flights

British Airways will from October 3 suspend its flights to Entebbe from Heathrow, the airline has announced. The British carrier which increased its Entebbe – Heathrow flights from three to four in March last year, has attributed the decision to pull out of the route due to failure to operate profitably…[...]